Helen of Troy Limited Reports Record Net Sales Revenue And Record Operating Income
Helen of Troy Limited (NASDAQ: HELE), designer, developer and worldwide marketer of brand-name household, personal care and healthcare/home environment consumer products, reported record first quarter net sales revenue and record operating income for the quarter ended May 31, 2012.
Fiscal first quarter net sales revenue increased 10.6 percent to $300,211,000 from $271,467,000 in the same period of the prior year.
Housewares. First quarter net sales revenue in the Housewares segment increased 13.8 percent to $60,249,000 compared to $52,946,000 for the same period last year, demonstrating the continued strength of our OXO brands.
Personal Care. First quarter net sales revenue in the Personal Care segment decreased 4.2 percent to $117,552,000 compared to $122,718,000 for the same period last year, resulting from a difficult retail environment in the U.S., Latin America and Europe, increased competitive trade promotional activities, product availability issues with certain suppliers, and the impact of foreign currency fluctuations.
Healthcare/Home Environment. First quarter net sales revenue in the Healthcare/Home Environment segment increased 27.8 percent to $122,410,000 compared to $95,803,000 for the same period last year, reflecting the addition of $24,291,000 of incremental sales from our recent acquisition of the PUR water filtration business on December 30, 2011.
HELE Net income for the fiscal first quarter was $23,472,000, or $0.74 per fully diluted share, compared to $24,605,000, or $0.78 per fully diluted share, in the prior year first quarter, a decrease in net income of $1,133,000 or 4.6 percent.
HELE Consolidated gross profit margin as a percentage of net sales revenue for the fiscal quarter ended May 31, 2012 decreased 0.1 percentage point to 40.4 percent compared to 40.5 percent for the same period last year. Our consolidated gross profit margin was unfavorably impacted by the effects of foreign currency exchange rates on sales, increased air freight costs incurred in the Personal Care segment, higher closeout sales in the Housewares segment and general product cost increases across all segments. These unfavorable impacts were mostly offset by the PUR water filtration acquisition.
Gerald J. Rubin, Chairman, Chief Executive Officer and President, commenting on the Company’s first quarter results, stated “During the first quarter, we achieved record net sales revenue and record operating income. Similar to other global consumer products companies, we faced many challenges in light of continuing consumer uncertainty and global economic problems. We are pleased that we were able to achieve growth in net sales revenue, operating income and EBITDA without share-based compensation, in a challenging retail sales environment.
About Helen of Troy Limited – HELE
Helen of Troy Limited (HELE) is a leading global consumer products company offering creative solutions for its customers through a strong portfolio of well-recognized and widely-trusted brands
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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